THE RUPEE: bears dominate

Bears dominated the money market on Thursday, as the rupee tended lower versus the dollar in the process of trading, dealers said. The rupee was down by 17-paisa in relation to the dollar for buying at Rs 98.55 and it also lost 40-paisa for selling at 98.60, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also fell versus the dollar, losing 30-paisa for buying and selling at Rs 98.90 and it also shed 20-paisa for selling at 99.10, dealers said.

The national currency also depreciated in relation to the euro, falling 75 paisa for buying and selling at Rs 137.25 and Rs 137.50, they said. In the fourth Asian trade, the euro held below a near two-month high ahead of an interest rate review by the European Central Bank (ECB), while the Aussie rose on better-than-expected data on Australian jobs and Chinese trade. For the euro, the main focus is the ECB, which is widely expected to keep interest rates on hold.

The dollar was trading against the Indian rupee at Rs 60.03, the US currency was available at 3.2470 in terms of the Malaysian ringgit and the greenback was at 6.2305 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.6450-77.6500 (77.65-77.65). Call Money Rates: 05.50-07.50 percent (previous 05.50-07.50 percent).

RUPEE IN LAHORE: The national currency remained under pressure, as it lost worth against the major currencies including US dollar and British pound on the local currency market on Thursday.

According to the currency dealers, the dollar resumed trading on a healthy note and registered gain following fresh demand. At close of trading, the dollar was ended higher at Rs 98.85 and Rs 99.10 as its buying and selling rates against Rs 98.70 and Rs 99.00 of Wednesday, respectively.

Similarly, the rupee failed to maintain upward slide and was depreciated against the pound sterling. The pound’s buying and selling rates were improved from overnight closing of Rs 166.00 and Rs 166.50 to Rs 166.50 and Rs 166.75, respectively, the dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 98.50 for buying and Rs 98.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 98.50 for buying and Rs 98.60 for selling. Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.